No more naked shorting on OTC starting March 14th

On January 31, 2014, the Securities and Exchange Commission (“SEC”) approved the rule filing file no. SR-NSCC-2013-13 (“Filing”), which was filed with the SEC by National Securities Clearing Corporation (“NSCC”) on December 10, 2013 pursuant to Section 19(b)(2) of the Securities Exchange Act of 1934, as amended. The Filing proposed to amend NSCC’s Rules & Procedures to discontinue

its Stock Borrow Program.

The proposed rule change described in the Filing will be effective as of Friday, March 14, 2014.

Source: HERE